4.8 • 646 Ratings
🗓️ 12 March 2024
⏱️ 30 minutes
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0:00.0 | entrepreneurs are famously optimistic. So when things aren't going well for a company, |
0:06.0 | they sometimes aren't willing to admit that things aren't going well. And for a lot of |
0:10.2 | CEOs, especially if you've had years and years of success, you've got a self-confidence |
0:14.9 | where you think, I can do this, I can do this. And then it just isn't working. And it's very |
0:20.5 | difficult to reach out and say, help me. |
0:23.1 | That's Jeff Vogel saying. He's what's called a turnaround consultant. He parachutes into companies that are having a |
0:29.9 | financial crisis and his job is to turn things around. He says the most difficult part of the job |
0:37.0 | is often just convincing company leadership to make |
0:40.3 | tough decisions. This is where they get caught up in, we should analyze this further. Let's talk about it more. |
0:46.3 | Let's do more research. Let's get more data. And I always say, listen, we're done with that process. |
0:51.8 | We're going to make a decision. And we're going to pick, I'll say this politely, |
0:56.1 | we're going to pick the least crappy option. |
0:58.6 | I've coined that the LSO over the years, but we'll call it the LCO here. |
1:03.3 | But good business leaders make a decision. |
1:06.9 | They don't wait for perfect information. |
1:09.3 | They don't wait until one of the answers is obviously good. |
1:12.8 | They've got two bad options, which is the least bad. |
1:16.4 | Let's go. |
1:25.7 | I'm Dan Heath, and this is what it's like to be. |
1:30.0 | In every episode of the show, we interview someone from a different profession. |
1:34.6 | We ask what it's like to walk in their shoes, a stand-up comedian, a hairstylist, a welder. |
1:41.4 | We want to know what they do all day at work. |
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